On August 18, 2009, Nickelodeon and Southern Star Amusement announced that the second Nickelodeon Universe would be in New Orleans, Louisiana and tentatively would open around the end of 2010. It was set to be the first outdoor Nickelodeon Universe theme park, but on November 9, 2009, Nickelodeon announced that it had ended the licensing agreement with Southern Star Amusements.[2]

The amusement park is owned and operated by The Triple 5 Group (under license from Viacom), which is the owner of Mall of America, Inc. Triple 5 Group also owns West Edmonton Mall, which also has an amusement park in the mall called Galaxyland.

Nickelodeon Universe is primarily lit by a glass ceiling, which is also the source of most of the heat for Mall of America. It was originally built by the then-owners of Knott's Berry Farm in Buena Park, California. The floor has a wide variance in height – the highest ground level in the park is 15 feet (4.6 m) above the lowest. This allows for a far more naturalistic experience than would normally be found in an indoor amusement park.

Camp Snoopy was never aggressively themed to the Peanuts franchise; the park had a very outdoors and woodsy feel with more subtle references to the Peanuts franchise. Much of the original theming in the Camp Snoopy fountain and all around the park was already toned down by the time the rights to the Peanuts characters were lost.

Theming that was removed from the park prematurely and was never replaced includes various kites near the ceiling, Charlie Brown and Lucy playing baseball above the Sports Grill restaurant (although their baseball remained suspended in the air afterwards), theming in Snoopy fountain, the retheming of Snoopy Boutique, Snoopy Bouncer, and the Snoopy Shop[3] and much smaller theming.

On April 7, 1998, New Horizon Kids Quest, Inc. opened a Kids Quest hourly child care facility in Knott's Camp Snoopy. It incorporated 17,385 square feet (1,615.1 m2) and served children ages six weeks to twelve years until it was removed in 2007.[4] It is now the "Dutchman’s Deck Adventure Course" ropes course, slides and zip line.

In 2005, there were plans to revitalize the Camp Snoopy image, and a new logo was introduced in October, called the "roller coaster logo" to replace the "canoe logo". However, this did not last long, as there were even bigger and unexpected changes coming within the next few months.

On January 9, 2006, Mall of America management announced that talks between MOA and Cedar Fair Entertainment Co. (which owns the national rights to amusement-park branding of the Peanuts license) had broken down, primarily over the mall's rights to effectively market its park within and outside the United States, and effective January 19, the park's Peanuts branding would end, the park being temporarily renamed "The Park at MOA" while new branding was being applied. All traces of the Peanuts branding was removed, some very sloppily,[5] although the gift shops were allowed to continue selling Peanuts merchandise without the Camp Snoopy label. The inflatable Snoopy character was removed and it took several months before it was finally replaced by a generic tree house inflatable. Many other landmarks in the park were either replaced by generic landmarks or not replaced at all.[6]

On November 2, 2005, Viacom filed a trademark for Nickelodeon Universe.[7]
The park's new licensing deal and name, "Nickelodeon Universe", was announced on July 25, 2007.[8] Construction began on August 27, 2007, work was completed in sections so 80 percent to 90 percent of the park remained accessible at all times. Nickelodeon Universe was completed on March 15, 2008.[9]

New rides include SpongeBob SquarePants Rock Bottom Plunge, a Gerstlauer Euro-Fighter style coaster themed after the Nickelodeon show SpongeBob SquarePants, the Splat-O-Sphere, a tower drop-ride in the center of the park, and the Avatar Airbender, a surf-rider attraction located in the center of the park as well and Brain Surge which is on the side of the park. The shooting gallery beneath the Ripsaw/Orange Streak roller coaster was gutted and was replaced by Rugrats Reptarmobiles.

The site of the Mystery Mine Ride was completely demolished to make way for SpongeBob SquarePants Rock Bottom Plunge. This site also included an Old Time Photography studio and restrooms. Old Time Photography relocated into the mall (but not within the park) and restrooms did not return in this section of the park.

Levy Restaurants partnered with Nickelodeon Universe to include a themed restaurant at the park. The restaurant was called EATS and is located in the former Park at MOA food court. Recently, the partnership ended; the EATS area closed and was replaced with a butterfly display.

On March 12, 2008, the Star Tribune reported that the price of ride points, daily wristbands, and, in particular, annual passes, would take a significant price hike once the park transitioned to Nickelodeon Universe. The price for an annual pass, which had remained $99 per year since the park opened in 1992, would increase to $250, and daily wristbands would be raised from $24.95 to $29.95. They eventually rose to $32.99 in 2014. Then in 2017, prices rose to where they currently stand at $35.99 for a daily wristband. On April 2015, the price for the annual pass drops down to $139. Some decreed the price increases as being unjustifiably high when compared to other parks, such as much larger Walt Disney World at $249.95 and local park Valleyfair at $79.95–$99.95. Others defended the pricing as necessary to accommodate the millions of dollars of investment needed to rebrand the park as Nickelodeon Universe.[10]

Even though the Nickelodeon cable channel changed their logo in September 2009, Nickelodeon Universe still continued to use a variant of the splat logo. The old logo was phased out after the new, all-text Nickelodeon Universe logo was revealed in an ad for the park's New Year's Eve event.[11] The new logo has now replaced all of the old logos on the website, and in the park.

Nickelodeon Universe will open its second location at American Dream Meadowlands in East Rutherford NJ in April 2019.[12]

The park is free to enter, but the rides require patrons to purchase a varying number of tickets (points), depending upon the type of ride. All-day unlimited ride wristbands and annual passes are also available.

On August 3, 1998, a 12-year-old boy, David Martin, was killed after he fell off the Log Chute. When the boat neared the top of the chute, he began to panic and reached outside of the log to grab a railing. The ride stopped, but the log had already begun its descent down the major drop. Losing his grip, Martin fell off the chute, falling onto the landscaping rocks. He then died as a result of his injuries. O.D. Hopkins Associates, Inc., the manufacturer of the ride, inspected it and found it was in proper working order. It was Camp Snoopy's first fatal accident.[15]

On August 15, 1998, an 8-year-old girl, Anna Coleman, died of a heart attack, a week before her 9th birthday after she rode the Screaming Yellow Eagle (now known as Danny Phantom Ghost Zone, which was replaced by Shredder's Mutant Masher), a rotating platform ride from Chance Rides. Her parents said she died from a heart attack because she had a history of heart problems for the five years before her death. The ride was working properly.[16]